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1、Chapter2MoneyandthePaymentsSystemLearningObjectivesUnderstand...LO1MoneyanditsfunctionsLO2ThepaymentssystemtodayandtomorrowLO3Moneylinks:inflationandeconomicgrowthThemakersoftheboardgameMonopolyprintonaverageabout$50billionofMonopolymoneyeveryyear—coincidentallyabo
2、utthesameastheamountofnewU.S.currency(excluding$100bills)issuedin2010.Everynewgamehasbillstotaling20,580Monopolydollars.Atacostofabout15U.S.dollarsperset,this“money”wouldbeagooddealifyoucouldbuythingsotherthanBoardwalkandParkPlacewithit.Unfortunately,attemptstopayf
3、orgroceries,books,orrentwiththisparticularformof moneyhavebeenunsuc-cessful.Andthat’sprobablyagoodthing.Sincethemid-1930s,ParkerBrothershassoldmorethan200millionMonopolygames,containingmorethan3 trillionMonopolydollars.1Whenwepayforourpurchasesintherealworld,wehave
4、lotsofchoices:crispnew$20 bills,creditcards,debitcards,checks,ormorecompli-catedelectronicmethods.RegardlessofthechoiceParkerBrothers’bestsellingboardgame.wemake,weareusingmoneytobuyourfoodandclothesandpayourbills.Tomakesurewecandoit,thousandsofpeopleworkthrougheve
5、rynight,forthepaymentssystemreallyneversleeps.Andthevolumeofpaymentsisastounding.TheFederalReservereportsthatin2009therewere109billionnoncashpaymentsmadeintheUnitedStates,22percentofwhichwerepaperchecks.Thatmeanssomethinglike95millionpaperchecksand340 mil-lionelect
6、ronicpaymentswereprocessedonanaveragebusinessday.And,regardlessofhowyouchoosetopay,thepaththatthepaymentfollowsisprettycomplicated.Tounderstandwhymoneyissoimportanttothesmoothfunctioningoftheecon-omyandhowitimproveseveryone’swell-being,weneedtounderstandexactlywhat
7、1FormorefunfactsaboutMonopoly,seewww.monopoly.com.cec2174X_ch02_023-044.indd2325/11/135:36PM24lChapter2MoneyandthePaymentsSystemmoneyis.Justwhyisa$20billissuedbytheU.S.governmentmuchmoreusefulthan$20inMonopolymoney?Furthermore,toquantifytheimpactofmoneyontheeconomy
8、,weneedtobeabletomeasureit.Thosearethegoalsofthischapter:toun-derstandwhatmoneyis,howweuseit,andhowwemeasureit.MoneyandHowWeUseItWhenpeopleusethe
